Investor Business Plan · 2026–2028

The digital layer turning nightlife into retention, data and activation.

Copa Win connects consumers, venues and brands in one gamified ecosystem: consume → scan → engage → win.

B2B2CGamificationLoyaltyRetail Medium / ActivaciónHospitality Tech
01 · Investment thesis

One network. Three value engines.

The thesis goes beyond venue software: it combines B2B subscriptions, B2C engagement and advertising/brand activation monetization.

Consumer

Rewards, roulette, levels, rankings, events, map, chat and community. The incentive is repeat network usage.

Venue

Retention, visibility, average spend, loyalty and consumption data. The incentive is to generate more value per customer.

Brand

Point-of-consumption activation, segmentation and measurement. The goal is attributable engagement.

02 · Market opportunity

TAM · SAM · SOM

Bottom-up model for Spain. Verifiable external data is separated from internal assumptions.
TAM · HOSTELERÍA ESPAÑA
266.476

active hospitality companies according to DIRCE (INE, 1 Jan 2025).

€1,279 B

Theoretical annual TAM at €400/month per account. This is a mathematical ceiling, not the actually serviceable market.

SAM · WORKING ASSUMPTION
≈53.295

20% of the hospitality universe as a preliminary proxy for nightlife, bars, pubs, experiential dining and activation-compatible venues.

≈€255,8 M

Annual SAM at €400/month. Industry-code and geographic validation is required before formal fundraising.

SOM · 24-MONTH PLAN
480

venues if 20 new locations are acquired per month for 24 months.

€2,304 M

Exit ARR at month 24 with 480 accounts at €400/month, before churn and other revenue streams.

Adjacent advertising market

€6.211,2 M

digital advertising investment in Spain in 2025, according to IAB Spain/PwC.

SOCIAL MEDIA€1.832,5 M
DIGITAL GROWTH+11,2%2025 vs 2024

This is not Copa Win's direct TAM; it shows that brands already allocate significant budgets to measurable digital channels.

03 · Product

Measurable engagement at the point of consumption.

The project includes roulette, rewards, rankings, calendar, map, chat, stories, consumption records and analytics.

01

Consume

The user makes a purchase at a participating venue.

02

Scan

The interaction is recorded in the ecosystem.

03

Engage

Roulette, rankings, rewards, levels, chat and events.

04

Return

Rewards and community are designed to increase retention.

Discovery

Venue map + event calendar.

Loyalty

Premios + niveles + gamificación + ranking.

Data layer

Consumption + campaigns + analytics for venues and brands.

04 · Customer segmentation

Three buyer personas.

The supplied materials identify users aged 20–35, venue owners/managers and brand managers as the three core segments.
B2C

Laura · Social Explorer

22 años. Instagram/TikTok. Sale 2–3 veces por semana. Busca ahorro, exclusividad, experiencias y comunidad.

North Star: frecuencia de uso/visita.

B2B

Antonio · Dueño de bar

38 años. Necesita aumentar ticket medio, fidelizar y ganar visibilidad. Compra si percibe resultados.

North Star: ROI incremental por local.

B2B BRAND

Marta · Brand Manager

32 años. Busca posicionamiento, reducción de costes, datos reales y activaciones digitales medibles.

North Star: coste por activación/conversión.

05 · Business model

Four monetization streams.

The founder-provided economic structure is retained, separating recurring and variable revenue.
Revenue streamProvided priceType
Venue subscription300 /monthRecurring B2B
User premium100 € variable*B2C / TBD
Google AdMob50–100 /monthAdvertising
External advertising500–5.000 €Campaigns / variable

*The documentation does not define whether €100 is ARPU, aggregate revenue or a campaign reference. This must be clarified before modeling.

Base unit used in projections

400 €/local/mes

€300 subscription + €100 minimum automated advertising revenue according to the supplied plan.

75% subscription / 25% advertising in the base assumption.

06 · Go-to-market

Density first. Expansion second.

For a local platform, user and venue density in each city matters more than fragmented geographic expansion.

Users

Instagram · TikTok · referrals · creators · QR in-venue · push.

KPI: CAC B2C / activation / D30

Venues

Venta directa · WhatsApp · demostración · prueba piloto · casos de éxito.

KPI: CAC B2B / payback / churn

Brands

LinkedIn · email · agencias · distribuidores · trade marketing · acuerdos nacionales.

KPI: campaign ARR / renewal / ROAS

Priority city · critical mass of users
Anchor venues + venue network
Brands + sponsored activations
07 · Financial model

Normalized base projection.

Scenario built from the explicit assumption of 20 new venues/month and €400/month per venue. No churn is applied because the original document provides no churn rate.
YEAR 1 REVENUE624.000 €monthly total
MONTH 12 MRR96.000 €240 venues
YEAR 2 REVENUE1.776.000 €before churn
MONTH 24 ARR2.304.000 €run-rate

Provided cost structure

Maintenance500 /month
Advertising900 /month
5 employees10.000 /month
Merchandising1.000 /month
Servers and domains6.500 /year
Declared total150.000 /year

What is missing for an investor-ready P&L

  • Variable cost of rewards/promotions.
  • Comisiones de App Store / Play Store si aplica.
  • Pasarela de pago y fraude.
  • Churn y descuentos comerciales.
  • CAC real por segmento y payback.
  • Costes legales, seguros, administración y soporte.
  • IVA e impuesto de sociedades aplicable según estructura real.
Important correction: the original document states €1.4–1.5M of gross benefits over 24 months and then applies a 25% tax directly to “gross”. Esa metodología no es adecuada. Based on the monthly progression in the original document, base revenue totals 2,4 M€ en 24 meses before churn and before adding other revenue streams. Tax should be modeled on taxable profit, not gross revenue.
08 · Scenario planning

Downside · Base · Upside.

Three transparent scenarios. These are planning assumptions, not guaranteed results. The upside case reflects maximum commercial ambition; the base case is the operating reference.
DOWNSIDE
10

new venues/month · 350 /month ARPA

€1,05 M

cumulative 24-month revenue*

Month 24: 240 venues · 84.000 € MRR · 1,008 M€ ARR

BASE
20

new venues/month · 400 /month ARPA

€2,40 M

cumulative 24-month revenue*

Month 24: 480 locales · 192.000 € MRR · 2,304 M€ ARR

UPSIDE
30

new venues/month · 450 /month ARPA

€4,05 M

cumulative 24-month revenue*

Month 24: 720 locales · 324.000 € MRR · 3,888 M€ ARR

ScenarioNew venues/monthARPAVenues month 12Year 1 revenueVenues month 2424m revenueExit ARR
Downside10350 €120273.000 €2401.050.000 €1.008.000 €
Base20400 €240624.000 €4802.400.000 €2.304.000 €
Upside30450 €3601.053.000 €7204.050.000 €3.888.000 €

*Simplified gross model before churn. Downside: 10 altas/mes × 350 €. Base: 20 × 400 €. Upside: 30 × 450 €. It does not yet include extraordinary revenue from large brand campaigns, leaving additional upside if this stream is validated.

Investor interpretation: the headline forecast may use the upside scenario, but the data room and investor discussions should always show all three scenarios and clearly explain the assumptions behind each.
09 · Unit economics

The metrics that will drive valuation.

There is not yet enough data to calculate actual LTV/CAC. These metrics should become monthly reporting from the pilot onward.

ARPA

400 €

hipótesis mensual por local.

Gross margin

TBD

requiere coste variable real.

CAC payback

TBD

objetivo: medir por canal.

Logo churn

TBD

critical to validate SaaS.

MetricWhy it mattersData to capture
LTV/CACGrowth efficiencyCAC fully-loaded + gross margin + churn
Net Revenue RetentionRevenue qualityupsell, downgrade y churn
Incremental visitsVenue ROIattributable visits vs baseline
Incremental ticketEconomic valueCopa Win ticket vs control
Brand conversionAdvertising ROIimpression → interaction → consumption
DAU/MAU + D30Habit formationcohorts by city/venue
10 · Competition & moat

The advantage must be built through network and data.

The original materials position booking/discount apps, standalone loyalty programs and traditional activation agencies as competing alternatives.
CapabilityCopa WinBookings/discountsStandalone loyaltyTraditional agency
GamificationHighLimitedMediumLow
Multi-venue networkYesYesNoVariable
CommunityYesLimitedNoNo
Consumption dataCore focusBookingSingle venueCampaign
Brand activationIntegratedSecondaryLimitedYes

Network effects

More venues → more value for users → larger audience → greater appeal to brands.

First-party data

The potential strategic asset is attribution across campaign, interaction and consumption.

Switching cost

It grows as venues integrate campaigns, history, community, rewards and operational reporting.

11 · Funding

The round should fund milestones, not promises.

The supplied plan mentions €30,000 for 10%, equivalent to a €300,000 post-money valuation. It should be treated as a preliminary example, not a validated valuation.
EJEMPLO DEL PROMOTOR
30.000 €

por 10% → 270.000 € pre-money / 300.000 € post-money.

Recommended use of funds

Product & data · B2B acquisition · B2C growth · pilot campaigns · legal/compliance · working capital.

Milestones for the next round

Verified MRR · churn · CAC payback · cohorts · venue ROI · renewed brand campaigns.

The document’s claim of a “minimum estimated €10M sale” is not treated as fact. An exit valuation requires comparables, growth metrics, margin, retention, IP, customer concentration and market conditions.
12 · SWOT

Strategic assessment.

An investor view must also show where the model can fail and how those risks will be mitigated.

Strengths

  • Propuesta multi-sided.
  • Gamification integrada.
  • Modelo recurrente + publicidad.
  • Potencial de datos first-party.

Weaknesses

  • Unit economics todavía no validados.
  • Dependencia de masa crítica local.
  • Modelo financiero inicial inconsistente.
  • Premium B2C sin definición económica suficiente.

Opportunities

  • Digitalización del marketing de hostelería.
  • Presupuestos crecientes en publicidad digital.
  • Retail media / closed-loop attribution.
  • Expansión por ciudades y cadenas.

Threats

  • Plataformas existentes añadiendo loyalty.
  • Churn elevado en pequeños negocios.
  • Privacidad y tratamiento de datos.
  • Coste de incentivos superior al previsto.
13 · Risk register

Risks investors will ask about.

The goal is not to hide risks, but to show they are understood, measured and mitigated.
RiskImpactMitigation
Chicken-and-egg marketplaceHighCity-by-city launches + anchor venues.
Churn de establecimientosHighDashboard ROI, onboarding, contratos y customer success.
Bajo engagement B2CHighCohortes, rewards dinámicos, referrals y eventos.
Reward economicsHighBrand sponsorship + caps + margin measurement.
Privacidad/GDPRHighPrivacy-by-design, consentimiento, minimización y DPA.
Concentración de marcaMediumDiversificar categorías y contratos.
Fraud/abuseMediumTransaction validation, anti-fraud rules and audits.
14 · Roadmap

24 months focused on economic proof.

Each phase should resolve an uncertainty affecting the next valuation.

0–3 meses

Instrument

Analytics, cohortes, atribución, CRM, métricas de local y panel financiero.

3–6 meses

Validate city

Venues ancla, densidad B2C, casos de éxito y primer cálculo CAC/LTV.

6–12 months

Replicate

Sales playbook, automation, second/third city and recurring brand revenue.

12–24 meses

Scale

Cadenas, acuerdos nacionales, data products y preparación de siguiente ronda.

15 · Contacto

Project contact.

Contact information for commercial and investment communications.
CONTACT

Reda Bizanti

Contact person

WEB

copawin.com

https://copawin.com/

EMAIL

info@copawin.com

Email contact

PHONE

+34 648 91 88 37

Phone contact

Investor conclusion

Copa Win can become more than a rewards app.

The strategic opportunity is to become loyalty and activation infrastructure connecting physical consumption with digital identity, community and measurement. The priority is proving that thesis with verifiable metrics.